Together with experts and analysts, we have prepared a report on future trends in the fintech industry for the upcoming year 2024. Based on this, a comprehensive report has been prepared, the summary of which we present in this entry.

Forecasts indicate that this year will be characterized by dynamic changes that will shape the future of this key sector of the economy.

• RegTech: A new era of regulations

In the context of increasing focus on regulatory compliance in the fintech sector, we anticipate stricter regulatory requirements. Regulatory authorities are expected to approach authorizations even more rigorously, limiting the issuance of new licenses only to those firms with robust business models and compliance practices. Alongside heightened scrutiny, there is an expectation of adjusting current regulations to address the risks posed by the digital transformation of fintechs in the era of AI.

• Investors seeking ESG-Aligned businesses

There is a trend towards the end of price wars, prompting investors to seek companies capable of providing sustainable growth and profitability. The most significant change, driven by regulations and expectations related to ESG, unequivocally suggests that financial firms seeking investment will need to demonstrate exceptional achievements not only in terms of unit economics and operational efficiency but also in the area of practices aligned with ESG principles.

• Utilization of artificial intelligence and machine learning for enhanced ffficiency

It is forecasted that 2024 will bring even wider utilization of artificial intelligence and machine learning to improve the efficiency of financial services. Fintech companies will increasingly leverage these technologies not only for advanced data analysis but also to streamline processes across various areas of their services.

• Continued integration of finance into new domains

The concept of integrated finance will continue to evolve, penetrating even more diverse sectors such as healthcare, transport, HR, and education. Fintech companies and entities outside the financial sector will explore new and creative ways to integrate financial services, creating a more connected and accessible financial ecosystem akin to the Internet of Things.

• Cryptocurrencies and digital currencies

With improving regulatory clarity and growing institutional interest, digital currencies, including those issued by central banks (CBDCs), will gain significance. Fintech companies are expected to explore innovative ways to integrate digital currencies into their offerings. Forecasts suggest that investment instruments enabling quick and convenient access to cryptocurrencies, stocks, and gold will continue to be actively implemented into service portfolios.

In conclusion, 2024 heralds the continuation of transformation in the fintech industry, from greater efficiency through AI utilization to more sustainable development.

The full report is available to our clients.

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